Question
Cedar Co. has forecast purchases to be $335,000 in June, $375,000 in July, $310,000 in August, and $272,000 in September. Purchases average 35% paid in
Cedar Co. has forecast purchases to be $335,000 in June, $375,000 in July, $310,000 in August, and $272,000 in September. Purchases average 35% paid in cash, 65% on credit. Credit purchases are paid 70% in the month of purchase, 30% during the month following, and 0% the second month following the purchase. Cash disbursements in September would be:
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Data Analytics for Accounting
Authors: Vernon Richardson
1st edition
1260375196, 9781260375183 , 978-1260375190
